Circuit City's Plan to Fire Employees
Circuit City announced that it is planning to replace its high-salaried employees with new ones who would start with lower paycheck.
This is the story:
While many human resource professionals were stunned by Circuit City’s bold announcement, on expert believes the company deserves praise for its candor.
"Circuit City has been very up front about the fact that this is a cost-cutting move in order align its costs more closely with industry averages," said David Urban, professor of marketing at Virginia Commonwealth University in Richmond, where Circuit City is based. where Circuit City is based. "Electronics retailing is a tough business, with a lot of pressure on profit margins. Therefore, the major players in that business have to seek efficiencies wherever they can.”
Not everyone agrees.
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Labels: Human Resources